Class Notes for Framework for Marketing Management, 6th Edition

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Preface
Just as A Framework for Marketing Management, 6th edition, is a shortened version of
Kotler/Keller’s Marketing Management, 15th edition, the Instructor’s Manual (IM) for A
Framework for Marketing Management, 6th edition, provides the essentials of the
Marketing Management, 15th edition, IM, including learning objectives, an executive
summary, suggested assignments and debates/discussion materials, and a chapter outline.
For the instructor teaching a survey marketing management course, or a substantially
abbreviated course, the Framework IM provides the basis for additional flexibility. For
example, if the course calls for the use of substantial case material, the Framework IM
provides the opportunity to select cases that complement each chapter. The Harvard
Business School Web site has a special section of recommended cases for a previous
edition that may be adapted to use with A Framework for Marketing.
https://cb.hbsp.harvard.edu/cbmp/resources/marketing/docs/MKT-Kotler-Keller.pdf
The Internet link for other cases is:
http://harvardbusinessonline.hbsp.harvard.edu
To summarize, the Framework IM is organized as follows:
• Learning/Teaching Objectives: Objectives that blend with and complement
the Kotler/Keller text learning objectives.
• Executive Summary: An executive summary from the chapter
• Assignments: Suggested assignments that align with the chapter content and
include related articles in some instances
• Chapter Outline: A detailed topic/sentence outline to provide an overall
framework to determine when and how to utilize the suggested lectures and/or
other support materials.

LEARNING OBJECTIVES
In this chapter, we will address the following questions:
1. Why is marketing important?
2. What is the scope of marketing?
3. What are some core marketing concepts?
4. What forces are defining the new marketing realities?
5. What are the tasks necessary for successful marketing management?
EXECUTIVE SUMMARY
Marketing is the activity, set of institutions, and processes for creating, communicating,
and delivering value to customers and for managing customer relationships in ways that
benefit the organization and its stakeholders. Marketing management is the art and science of
choosing target markets and getting, keeping, and growing customers through creating,
delivering, and communicating superior customer value. Marketers can market goods,
services, events, experiences, persons, places, properties, organizations, information, and ideas
in four different marketplaces: consumer, business, global, and nonprofit.
Today’s marketplace is fundamentally different than in the past, resulting in many new
consumer and company capabilities. Technology, globalization, and social responsibility are
creating new opportunities and challenges and significantly changing the management or
marketing. Organizations can conduct business under the production concept, the product
concept, the selling concept, the marketing concept, or the holistic marketing concept. The
holistic marketing concept (including relationship marketing, integrated marketing, internal
marketing, and performance marketing) is based on the development, design, and
implementation of marketing programs, processes, and activities that recognize their breadth
and interdependencies. Successful marketing management includes developing marketing
strategies and plans, capturing marketing insights, connecting with customers, building strong
brands, creating, delivering, and communicating value, and managing the marketing
organization within the global economy.
OPENING THOUGHT
It is important to focus on how and why the traditional view of marketing has changed, and to
introduce the various ways of measuring performance, since they will reappear throughout the
text. Marketing applies to a variety of different areas and is increasingly involving many
levels of the organization. Students who are not marketing majors may have some difficulty
accepting the encompassing role that marketing has on the other functional disciplines within
C H A P T E R
1 DEFINING MARKETING
FOR THE NEW REALITIES

a firm. For those students who have never been exposed to marketing and its components, the
instructor’s challenge is to educate the students about the world of marketing.
ASSIGNMENTS
In small groups, ask the students to review the annual report from Unilever. How do the
missions discussed in the opening vignette translate into their current business practices? How
are its marketing investments and initiatives affecting its profitability? What conclusions can
you draw from Unilever’s progress?
Students can choose a firm of their preference, interview key marketing management
members and ask the firm how they are reacting to the changes in marketing management for
the new realities.
Have the students read Adi Narayan’s “Marketers Aim New Ads at Video iPod Users,”
BloombergBusinessWeek April 17, 2014 (http://www.businessweek.com/articles/2014-04-
17/indias-mobile-marketers-try-phone-calls-to-reach-rural-consumers) and Suzanne Vranica
and Christopher S. Stewart’s “Mobile Advertising Begins to Take Off: Spending More Than
Doubled in the First Half,” Wall Street Journal, October 9, 2013 and comment on how
effective they believe cell phone advertisements will be in the future.
Have the students reflect upon their favorite product and/or service. Then have the students
collect marketing examples from each of these companies. This information should be in the
form of examples of printed advertising, copies of television commercials, Internet
advertising, or radio commercials. During class, have the students share what they have
collected with others. Questions to ask during the class discussion should focus on why this
particular example of advertising elicits a response from you. What do you like/dislike about
this marketing message? Does everyone in the class like/dislike this advertising?
DETAILED CHAPTER OUTLINE
Opening Vignette: Unilever is responding to the digital revolution and other major changes in
the business environment with a new marketing model that establishes social, economic, and
product missions for each brand. Examples of initiatives include halving its ecological
footprint while doubling revenues and drawing 70–75% of business from developing and
emerging markets by 2020. Marketing is both an art and a science, and results from careful
planning and execution using state-of-the art tools and techniques.
I. The Value of Marketing
A. Marketing ability helps create sufficient demand for products and services, which
is essential for a firm’s financial success, creates jobs and provides resources for
firms to engage is socially responsible activities.
B. Marketers that fail to carefully monitor their customers and competitors, continuously
improve their value offerings and marketing strategies, or satisfy their employees,
stockholders, suppliers, and channel partners in the process are more vulnerable to
competitive entry.

II. The Scope of Marketing
A. What Is Marketing?
i. Marketing is about identifying and meeting human and social needs; “Meeting
needs profitably.”
ii. American Marketing Association definition: Marketing is the activity, set of
institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for customers, clients, partners, and society
at large.
iii. Marketing management is the art and science of choosing target markets and
getting, keeping, and growing customers through creating, delivering, and
communicating superior customer value.
B. What Is Marketed?
i. Goods: physical goods include food products, cars, refrigerators, televisions,
machines, and other mainstays of a modern economy.
ii. Services: represent approximately 2/3 of the U.S. economy, including airlines,
hotels, maintenance and repair people, and accountants, bankers, doctors, and
management consultants.
iii. Events: include time-based events, global and local events.
iv. Experiences: marketers orchestrate several services and goods to create, stage, and
market experiences.
v. Persons: include artists, musicians, CEOs, physicians, high-profile lawyers and
financiers, and other professionals often get help from marketers, and each person
has been advised to become a “brand.”
vi. Places: include economic development specialists, real estate agents, commercial
banks, local business associations, and advertising and public relations agencies.
vii. Properties: intangible rights of ownership to either real property (real estate) or
financial property (stocks and bonds).
viii.Organizations: include museums, performing arts organizations, corporations, and
nonprofits that use marketing to boost their public images and compete for
audiences and funds.
ix. Information: what books, schools, and universities produce, market, and distribute
at a price to parents, students, and communities.
x. Ideas: every market offering includes a basic idea. Products and services are
platforms for delivering some idea or benefit.
C. Who Markets?
i. A marketer is someone who seeks a response—attention, a purchase, a vote, a
donation—from another party, called the prospect.
ii. Marketers manage all possible touch points where a customer interacts with the
company.
D. What Is a Market?
i. A market is a collection of buyers and sellers who transact over a particular
product or product class (such as the housing market or the grain market).
ii. Buyers and sellers are connected by four flows that include goods and services,
communication, money exchange, and information exchange.
III. Core Marketing Concepts
A. Needs, Wants, and Demands

i. Needs = basic human requirements
ii. Wants = when needs are directed to specific objects that might satisfy the need
iii. Demands = wants for specific products backed by an ability to pay
iv. Marketers do not create needs: Needs pre-exist marketers.
v. Five types of needs:
(1) Stated needs
(2) Real needs
(3) Unstated needs
(4) Delight needs
(5) Secret needs
B. Target Markets, Positioning, and Segmentation
i. For each target market, the firm develops a market offering that it positions in
target buyers’ minds as delivering some key benefit(s).
C. Offerings and Brands
i. A value proposition is a set of benefits that satisfy a consumer’s needs.
ii. The intangible value proposition is made physical by an offering, which can be a
combination of products, services, information, and experiences.
iii. A brand is an offering from a known source. All companies strive to build a brand
image with as many strong, favorable, and unique brand associations as possible.
D. Marketing Channels
i. Communication channels deliver and receive messages from target buyers.
ii. Distribution channels help display, sell, or deliver the physical product or
service(s) to the buyer or user.
iii. Service channels include

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i. The supply chain is a channel stretching from raw materials to components to
finished products carried to final buyers.
ii. Each company in the chain captures only a certain percentage of the total value
generated by the supply chain’s value delivery system.
iii. When a company acquires competitors or expands upstream or downstream, its
aim is to capture a higher percentage of supply chain value.
I. Competition
i. Competition includes all the actual and potential rival offerings and substitutes a
buyer might consider.
J. Marketing Environment
i. Task environment includes the actors engaged in producing, distributing, and
promoting the offering.
ii. Broad environment consists of six components: demographic environment,
economic environment, social-cultural environment, natural environment,
technological environment, and political-legal environment.
IV. The New Marketing Realities
A.

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iii. Retail transformation: increased competition from a variety of formats has yielded
more entertaining retail experiences.
iv. Disintermediation: delivery of products and services by intervening in the
traditional flow of goods.
v. Reintermediation: traditional companies are adding online services to their
offerings.
vi. Heightened global competition, rise of private labels and mega-brands.
vii. Marketers are increasingly asked to justify their investments in financial and
profitability terms, as well as in terms of building the brand and growing the
customer base.
V. Company Orientation Toward the Marketplace
A. The Production Concept
i. Suggests consumers prefer products that are widely available and inexpensive, so
management aims for high production efficiency, low costs, and mass distribution.
B. The Product Concept
i. Proposes consumers favor products offering the most quality, performance, or
innovative features, so management may commit the “better-mousetrap” fallacy,

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(2) Marketers should design and implement any one marketing activity with all
other activities in mind.
(3) The company must develop an integrated channel strategy.
(4) The company must integrate communications to they reinforce and
complement each other.
iv. Internal Marketing
(1) Hiring, training, and motivating able employees who want to serve customers
well.
(2) Marketing succeeds only when all departments work together to achieve
customer goals.
v. Performance Marketing
(1) Requires understanding the financial and nonfinancial returns to business and
society from marketing activities and programs.
VI. Updating The Four Ps
A. The original four Ps: product, price, place and promotion
B. Modern marketing realities suggest a more representative set that encompasses
modern marketing realities: people, processes, programs and performance.

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LEARNING OBJECTIVES
In this chapter, we will address the following questions:
1. How does marketing affect customer value?
2. How is strategic planning carried out at different organizational levels?
3. What does a marketing plan include?
4. How can companies monitor and improve marketing activities and performance?
CHAPTER SUMMARY
The value chain is a tool for identifying key activities that create customer value
and costs in a specific business. The value delivery process includes choosing (or
identifying), providing (or delivering), and communicating superior value. Market-
oriented strategic planning is the managerial process of developing and maintaining a
viable fit between the organization’s objectives, skills, and resources and its changing
market opportunities.
Strategic planning occurs at multiple levels: corporate, division, business unit, and
product. Corporate strategy includes defining the mission, establishing strategic business
units (SBUs), assigning resources, and as

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ASSIGNMENTS
Students should be encouraged to review selected companies’ annual reports to collect from
these reports the corporations’ mission statements, strategy statements, and target market
definitions. The collected material can be discussed in class comparing the company’s overall
business, marketing, and customer strategies.
Each student is in effect a “product.” Like all products you (they) must be marketed for
success. Have each of your students’ write their own “mission statement” about their career
and a “goal statement” of where they see themselves in 5 years, 10 years, and after 20 years.
Select a local firm or have the students select firms in which they are familiar (current
employers or past employers, for example) and have them answer the questions posed by the
Marketing Memo, Marketing Plan Criteria regarding the evaluation of a marketing plan. Make
sure the students are specific in their answers.

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DETAILED CHAPTER OUTLINE
Opening Vignette: Hewlett-Packard has been challenged in recent years, and is an
example of how firms must constantly improve their strategies to adjust to changes in the
marketplace.
I. Marketing and Customer Value
A. The Value Delivery Process
i. The traditional view of marketing where a firm makes something and
sells it only applies in economies with goods shortages
ii. Marketing is placed at the beginning of business planning in
economies with different consumer needs and wants
iii. Three phases to the value creation and delivery sequence:
1. Choosing the value: homework; market segmentation, target
market selection, value positioning
2. Providing the value: identification of features, prices,
distribution
3. Communicating the value: use the Internet, advertising, sales
force and other communication tools

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